by Sunday | Aug 20 | Accounting WAEC
A. proforma invoice B. credit note C. debit note D. consignment note E. goods return note Correct Answer: Option B – credit note
by Sunday | Aug 20 | Accounting WAEC
A. sales day book B. cash book C. ledger D. journal E. purchases day book Correct Answer: Option C – ledger
by Sunday | Aug 20 | Accounting WAEC
A. both the liability and asset are increased B. both the liability and asset are decreased C. liability is increased while the asset is decreased D. liability is decreased while the asset is increased E. both liability and asset remain unchanged Correct Answer:...
by Sunday | Aug 20 | Accounting WAEC
A. if you receive goods on credit the seller becomes your creditor B. for every debit entry there must be a corresponding credit entry C. one party receives and another party gives value D. purchases and sales are stated separately E. for every seller there is a buyer...
by Sunday | Aug 20 | Accounting WAEC
A. trial balance as a debit B. trial balance as a credit C. balance sheet as a fixed asset D. balance sheet as a long term liability E. balance sheet as a current liability Correct Answer: Option B – trial balance as a...
by Sunday | Aug 20 | Accounting WAEC
A. debit side of sales control account and the credit side of purchases control account B. debit side of sales ledger control account only C. debit side of purchases ledger control account D. credit side of the sales ledger control account E. credit-side of the...